Former IDB Chairman Nochi Dankner was indicted by the Tel Aviv Economic Crimes Division on Monday in the Tel Aviv District Court for securities fraud.

Other charges included misrepresentations to shareholders and investors, failure to issue certain reports and illegal use of assets under money-laundering laws.

Dankner, formerly one of the most powerful businessmen in the country, lost control of IDB in January. The indictment addresses alleged crimes committed in February 2012 regarding an over NIS 300 million fraud in conjunction with the issuing of shares by IDB.